Internet reported that U.S. President Donald Trump threatened to impose 35% tariffs on some Canadian goods, signaling that tariffs would be raised on most other countries. Trade rhetoric has become stronger, putting pressure on stock markets and boosting the dollar. Canadian Prime Minister Carney responded to Trump by saying Canada will continue to protect workers and businesses while continuing to negotiate with the United States before the August 1 deadline. He added in a post on X that in North America, Canada has made "significant progress" in the fight against fentanyl and is committed to working with the United States on the issue.